00:00President Ferdinand R. Marcos Jr. is confident that the Philippines will gain the upper-middle-income country status this 2025.
00:09The President also praised the good state of our economy in the diplomatic community.
00:15Alvin Baltazar, Radyo Pilipinas, Sa Balitang Pambansa.
00:21President Ferdinand R. Marcos Jr. believes that the country will gain the upper-middle-income country status this 2025.
00:29In a traditional speech of Van den Oor in his palace last Saturday,
00:33the President said in front of the diplomatic community that in showing the strong macroeconomic fundamentals of the country,
00:40they believe that the Philippines will achieve the high income of the country.
00:46With strong macroeconomic fundamentals, we are confident that the country will be able to hit this year
00:53the GNI per capita range set for us by the World Bank to reach the upper-middle-income status country,
01:01coming off from an all-time high record registered in 2023 to the tune of US$4,335.
01:13The President also praised the good economic status of the Philippines,
01:17which is considered to be the strongest economy in Asia,
01:21which reached 5.8 percent for the first three quarters of 2024,
01:26a reason to boost the performance of other countries in the Asian region.
01:31This proves the high gross domestic product after 27 years reached 16.7 percent.
01:38And the revenue collection for 2024, which reached 4.42 trillion pesos, is a big thing here.
01:47The Philippine economy remains among the strongest in Asia,
01:51expanding 5.8 percent for the first three quarters of last year,
01:56and outstripping performances of some peers in the Asian region.
02:01Our revenue collection for 2024 is about 4.42 trillion pesos,
02:08accounting for 16.7 percent of our GDP, and this is the highest figure in the last 27 years.
02:15The President also praised the country's use of the first-ever credit A rating from S&P Global Ratings.
02:23It also lowered the unemployment rate to 4.0 percent,
02:27which is even lower than the 4.4 to 4.7 percent target.
02:32And the reason for this is the strengthening of the labor market.
02:37For Balintang Pambansa, Alvin Baltazar of Radyo Pilipinas.
